Stebbings will officially step down and leave Betfred on 29 September after almost 30 years with the business.
Betfred is yet to release details of any possible replacements for Stebbings when he departs. Stebbings revealed he is stepping down in a post on his LinkedIn page.
“After nearly 30 years I have decided it is the right time for me to leave Betfred,” Stebbings said. “I am immensely proud to have been part of an incredible growth story.
“I must give special thanks to Fred Done who has been an unbelievable mentor to me and for the belief and faith he put in me as I made my way through the ranks from a trainee betting shop manager to group chief operating officer.
“I’m sure Betfred will continue to grow and I wish Fred and his team continued success. I am looking forward to taking a short break spending some quality time with my family before I decide what the future has in store for me.”
Changes at the top for Betfred USA
Stebbings’ departure comes in the wake of several changes to management within Betfred USA.
Earlier this month, Kresimir Spajic was appointed to lead the Betfred USA business as its new chief executive.
Spajic is overseeing the sportsbook’s strategy and operations across 10 US states. Betfred is licensed in Nevada, Pennsylvania, Colorado, Louisiana, Arizona, Iowa, Washington, Virginia, Ohio and Maryland.
He joins having worked in executive and principal consulting roles at several major gambling businesses. These include Great Canadian Entertainment, Apollo Global Management, Hard Rock International, Rush Street Interactive, Borgata and Bwin.
Betfred also looking for new US COO
In related news, Bryan Bennett last week stepped down from his position as chief operating officer of Betfred USA. Bennett left on 22 September after three years in the role.
“This has been one of the most exciting, fun, rewarding, challenging, frustrating and exhausting experiences of my career, sometimes all in the same day,” Bennett said in a LinkedIn post. “But it was never boring.
“The job is far from finished, but I’m leaving a solid foundation in the very capable hands of Kresimir Spajic, whose recent appointment as US CEO provides a very bright future for the company.”
Last year, Bennett spoke with iGB about finding a place for Betfred USA Sports in the US sports betting industry, arguing his experience in social casino gave him unique insights into competing against “800lb gorillas” such as DraftKings and FanDuel.